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Citations for "Markup pricing in mergers and acquisitions"

by Schwert, G. William

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  1. Harry Huizinga & Johannes Voget & Wolf Wagner, 2012. "International Taxation and Cross-Border Banking," NBER Working Papers 18483, National Bureau of Economic Research, Inc.
  2. Goktan, M. Sinan & Kieschnick, Robert, 2012. "A target's perspective on the effects of ATPs in takeovers after recognizing its choice in the process," Journal of Corporate Finance, Elsevier, vol. 18(5), pages 1088-1103.
  3. repec:dgr:uvatin:2012100 is not listed on IDEAS
  4. Li, Xiaoyang, 2013. "Productivity, restructuring, and the gains from takeovers," Journal of Financial Economics, Elsevier, vol. 109(1), pages 250-271.
  5. FRIDOLFSSON, Sven-Olof & STENNEK, Johan, 1999. "Why mergers reduce profits, and raise share prices: A theory of preemptive mergers," Working Papers 1999018, University of Antwerp, Faculty of Applied Economics.
  6. Bris, Arturo, 2002. "Toeholds, takeover premium, and the probability of being acquired," Journal of Corporate Finance, Elsevier, vol. 8(3), pages 227-253, July.
  7. Tomaso Duso & Klaus Gugler & Burcin Yurtoglu, 2006. "Is the Event Study Methodology Useful for Merger Analysis? A Comparison of Stock Market and Accounting Data," CIG Working Papers SP II 2006-19, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
  8. Ivaldi, Marc & Motis, Jrissy, 2007. "Mergers as Auctions," IDEI Working Papers 461, Institut d'Économie Industrielle (IDEI), Toulouse.
  9. Betton, Sandra & Eckbo, B Espen & Thorburn, Karin S, 2005. "The Toehold Puzzle," CEPR Discussion Papers 5084, C.E.P.R. Discussion Papers.
  10. Bhagat, Sanjai & Dong, Ming & Hirshleifer, David & Noah, Robert, 2005. "Do tender offers create value? New methods and evidence," Journal of Financial Economics, Elsevier, vol. 76(1), pages 3-60, April.
  11. Hutson, Elaine, 2000. "Takeover targets and the probability of bid success: Evidence from the Australian market," International Review of Financial Analysis, Elsevier, vol. 9(1), pages 45-65, February.
  12. Arturo Bris, 1998. "When Do Bidders Purchase a Toehold? Theory and Tests," Yale School of Management Working Papers ysm107, Yale School of Management, revised 01 Aug 2000.
  13. Leonce Bargeron & Frederik Schlingemann & Rene M. Stulz & Chad Zutter, 2007. "Why Do Private Acquirers Pay So Little Compared to Public Acquirers?," NBER Working Papers 13061, National Bureau of Economic Research, Inc.
  14. Audra L. Boone & J. Harold Mulherin, 2001. "Valuing the Process of Corporate Restructuring," Claremont Colleges Working Papers 2001-22, Claremont Colleges.
  15. Jozsef Molnar, 2002. "Preemptive Horizontal Mergers: Theory and Evidence," IEHAS Discussion Papers 0213, Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences.
  16. Bhabra, Harjeet S. & Huang, Jiayin, 2013. "An empirical investigation of mergers and acquisitions by Chinese listed companies, 1997–2007," Journal of Multinational Financial Management, Elsevier, vol. 23(3), pages 186-207.
  17. Chen, Shan & Insley, Margaret, 2012. "Regime switching in stochastic models of commodity prices: An application to an optimal tree harvesting problem," Journal of Economic Dynamics and Control, Elsevier, vol. 36(2), pages 201-219.
  18. Dirk Hackbarth & Jianjun Miao, . "The Timing and Returns of Mergers and Acquisitions in Oligopolistic Industries," Boston University - Department of Economics - Working Papers Series wp2008-022, Boston University - Department of Economics.
  19. Maksimovic, Vojislav & Phillips, Gordon & Prabhala, N.R., 2011. "Post-merger restructuring and the boundaries of the firm," Journal of Financial Economics, Elsevier, vol. 102(2), pages 317-343.
  20. Ajeyo Banerjee & E. Woodrow Eckard, 2001. "Why Regulate Insider Trading? Evidence from the First Great Merger Wave (1897-1903)," American Economic Review, American Economic Association, vol. 91(5), pages 1329-1349, December.
  21. Aktas, Nihat & de Bodt, Eric & Roll, Richard, 2011. "Serial acquirer bidding: An empirical test of the learning hypothesis," Journal of Corporate Finance, Elsevier, vol. 17(1), pages 18-32, February.
  22. Tomaso Duso & Damien J. Neven & Lars-Hendrik Röller, 2002. "The Political Economy of European Merger Control: Evidence using Stock Market Data," CIG Working Papers FS IV 02-34, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
  23. Humphery-Jenner, M., 2011. "High Frequency Trading, Information, and Takeovers," Discussion Paper 2011-047, Tilburg University, Center for Economic Research.
  24. Kau, James B. & Linck, James S. & Rubin, Paul H., 2008. "Do managers listen to the market?," Journal of Corporate Finance, Elsevier, vol. 14(4), pages 347-362, September.
  25. repec:dgr:uvatin:20120100 is not listed on IDEAS
  26. Dimopoulos, Theodosios & Sacchetto, Stefano, 2014. "Preemptive bidding, target resistance, and takeover premiums," Journal of Financial Economics, Elsevier, vol. 114(3), pages 444-470.
  27. Boyan Jovanovic & Serguey Braguinsky, 2002. "Bidder Discounts and Target Premia in Takeovers," NBER Working Papers 9009, National Bureau of Economic Research, Inc.
  28. Leonce L. Bargeron & Frederik P. Schlingemann & René M. Stulz & Chad J. Zutter, 2009. "Do Target CEOs Sell Out Their Shareholders to Keep Their Job in a Merger?," NBER Working Papers 14724, National Bureau of Economic Research, Inc.
  29. Kisgen, Darren J. & "QJ" Qian, Jun & Song, Weihong, 2009. "Are fairness opinions fair? The case of mergers and acquisitions," Journal of Financial Economics, Elsevier, vol. 91(2), pages 179-207, February.
  30. Michael Greenstone & Paul Oyer & Annette Vissing-Jorgensen, 2005. "Mandated Disclosure, Stock Returns, and the 1964 Securities Acts Amendments," NBER Working Papers 11478, National Bureau of Economic Research, Inc.
  31. Mueller, Holger M & Panunzi, Fausto, 2003. "Tender Offers and Leverage," CEPR Discussion Papers 3964, C.E.P.R. Discussion Papers.
  32. Jindra, Jan & Walkling, Ralph A., 2004. "Speculation spreads and the market pricing of proposed acquisitions," Journal of Corporate Finance, Elsevier, vol. 10(4), pages 495-526, September.
  33. Qingzhong Ma, 2013. "Investment banks advising takeover targets," Journal of Economics and Finance, Springer, vol. 37(3), pages 339-374, July.
  34. Madura, Jeff & Marciniak, Marek, 2014. "Bidder country characteristics and informed trading in U.S. targets," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 29(C), pages 256-284.
  35. Ang, James S. & Ҫolak, Gӧnül & Zhang, Tai-Wei, 2014. "Decoupling by clienteles and by time in the financial markets: The case of two-stage stock-financed mergers," Journal of Corporate Finance, Elsevier, vol. 25(C), pages 360-375.
  36. Bauguess, Scott W. & Moeller, Sara B. & Schlingemann, Frederik P. & Zutter, Chad J., 2009. "Ownership structure and target returns," Journal of Corporate Finance, Elsevier, vol. 15(1), pages 48-65, February.
  37. Fu, Fangjian & Lin, Leming & Officer, Micah S., 2013. "Acquisitions driven by stock overvaluation: Are they good deals?," Journal of Financial Economics, Elsevier, vol. 109(1), pages 24-39.
  38. Michael McCann, 2004. "Motives for Acquisitions in the UK," Working Papers 2004/1, Nottingham Trent University, Nottingham Business School, Economics Division.
  39. Baker, Malcolm & Pan, Xin & Wurgler, Jeffrey, 2012. "The effect of reference point prices on mergers and acquisitions," Journal of Financial Economics, Elsevier, vol. 106(1), pages 49-71.
  40. Goldman, Eitan & Qian, Jun, 2005. "Optimal toeholds in takeover contests," Journal of Financial Economics, Elsevier, vol. 77(2), pages 321-346, August.
  41. Simonyan, Karen, 2014. "What determines takeover premia: An empirical analysis," Journal of Economics and Business, Elsevier, vol. 75(C), pages 93-125.
  42. Philip L. Williams & Graeme Woodbridge, 2003. "Antitrust Merger Policy: Lessons from the Australian Experience," NBER Working Papers 9600, National Bureau of Economic Research, Inc.
  43. Dutt, Tanuj & Humphery-Jenner, Mark, 2013. "Stock return volatility, operating performance and stock returns: International evidence on drivers of the ‘low volatility’ anomaly," Journal of Banking & Finance, Elsevier, vol. 37(3), pages 999-1017.
  44. Saif Ullah & Nadia Massoud & Barry Scholnick, 2014. "The Impact of Fraudulent False Information on Equity Values," Journal of Business Ethics, Springer, vol. 120(2), pages 219-235, March.
  45. Martynova, M. & Renneboog, L.D.R., 2005. "Takeover Waves : Triggers, Performance and Motives," Discussion Paper 2005-107, Tilburg University, Center for Economic Research.
  46. Feito-Ruiz, Isabel & Menéndez-Requejo, Susana, 2011. "Cross-border Mergers and Acquisitions in different legal environments," International Review of Law and Economics, Elsevier, vol. 31(3), pages 169-187, September.
  47. Desai, Chintal A. & Klock, Mark S. & Mansi, Sattar A., 2011. "On the acquisition of equity carve-outs," Journal of Banking & Finance, Elsevier, vol. 35(12), pages 3432-3449.
  48. Choy, Siu Kai & Wei, Jason, 2012. "Option trading: Information or differences of opinion?," Journal of Banking & Finance, Elsevier, vol. 36(8), pages 2299-2322.
  49. Svetlana Grigorieva & Tatiana Petrunina, 2013. "The performance of mergers and acquisitions in emerging capital markets: new evidence," HSE Working papers WP BRP 20/FE/2013, National Research University Higher School of Economics.
  50. repec:dgr:kubtil:2006003 is not listed on IDEAS
  51. Datta, Sudip & Iskandar-Datta, Mai & Raman, Kartik, 2003. "Value creation in corporate asset sales: The role of managerial performance and lender monitoring," Journal of Banking & Finance, Elsevier, vol. 27(2), pages 351-375, February.
  52. Kimberly Gleason & Anita Pennathur & Joan Wiggenhorn, 2014. "Acquisitions of family owned firms: boon or bust?," Journal of Economics and Finance, Springer, vol. 38(2), pages 269-286, April.
  53. Sokolyk, Tatyana, 2011. "The effects of antitakeover provisions on acquisition targets," Journal of Corporate Finance, Elsevier, vol. 17(3), pages 612-627, June.
  54. Burch, Timothy R., 2001. "Locking out rival bidders: The use of lockup options in corporate mergers," Journal of Financial Economics, Elsevier, vol. 60(1), pages 103-141, April.
  55. repec:use:tkiwps:0515 is not listed on IDEAS
  56. Andriy Bodnaruk & Massimo Massa & Andrei Simonov, 2009. "Investment Banks as Insiders and the Market for Corporate Control," Review of Financial Studies, Society for Financial Studies, vol. 22(12), pages 4989-5026, December.
  57. repec:dgr:kubcen:20066 is not listed on IDEAS
  58. Officer, Micah S. & Ozbas, Oguzhan & Sensoy, Berk A., 2010. "Club deals in leveraged buyouts," Journal of Financial Economics, Elsevier, vol. 98(2), pages 214-240, November.
  59. Goran Serdareviæ & Petr Teplý, 2011. "The Efficiency of EU Merger Control During the Period 1990–2008," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 61(3), pages 252-276, July.
  60. Madura, Jeff & Ngo, Thanh & Viale, Ariel M., 2012. "Why do merger premiums vary across industries and over time?," The Quarterly Review of Economics and Finance, Elsevier, vol. 52(1), pages 49-62.
  61. Massa, Massimo & Zhang, Lei, 2009. "Cosmetic mergers: The effect of style investing on the market for corporate control," Journal of Financial Economics, Elsevier, vol. 93(3), pages 400-427, September.
  62. Schneck, Colin & Bessler, Wolfgang & Zimmermann, Jan, 2014. "Bidder Contests in International Mergers and Acquisitions: The Impact of Toeholds, Preemptive Bidding, and Termination Fees," Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100493, Verein für Socialpolitik / German Economic Association.
  63. Killian J. McCarthy & G.U. Weitzel, 2009. "Theory and evidence on mergers and acquisitions by small and medium enterprises," Working Papers 09-21, Utrecht School of Economics.
  64. Akhigbe, Aigbe & Martin, Anna D. & Whyte, Ann Marie, 2007. "Partial acquisitions, the acquisition probability hypothesis, and the abnormal returns to partial targets," Journal of Banking & Finance, Elsevier, vol. 31(10), pages 3080-3101, October.
  65. Jorge Farinha & Francisco Miranda, 2003. "Run-up, toeholds, and agency effects in mergers and acquisitions: evidence from an emerging market," CEF.UP Working Papers 0311, Universidade do Porto, Faculdade de Economia do Porto.
  66. Caspar Rose, 2004. "Stakeholder Orientation vs. Shareholder Value—A Matter of Contractual Failures," European Journal of Law and Economics, Springer, vol. 18(1), pages 77-97, July.
  67. Gelman, Sergey & Wilfling, Bernd, 2009. "Markov-switching in target stocks during takeover bids," Journal of Empirical Finance, Elsevier, vol. 16(5), pages 745-758, December.
  68. Cai, Ye & Sevilir, Merih, 2012. "Board connections and M&A transactions," Journal of Financial Economics, Elsevier, vol. 103(2), pages 327-349.
  69. G. William Schwert, 2000. "Hostility in Takeovers: In the Eyes of the Beholder?," Journal of Finance, American Finance Association, vol. 55(6), pages 2599-2640, December.
  70. Koch, Adam S. & Lefanowicz, Craig E. & Robinson, John R., 2012. "The effect of quarterly earnings guidance on share values in corporate acquisitions," Journal of Corporate Finance, Elsevier, vol. 18(5), pages 1269-1285.
  71. Xiaopeng Zou & Qiuping Wei & Bo Zhang, 2012. "Empirical research on M&A performance of private enterprises in China," Quality & Quantity: International Journal of Methodology, Springer, vol. 46(2), pages 639-651, February.
  72. Martynova, M. & Renneboog, L.D.R., 2006. "Mergers and Acquisitions in Europe," Discussion Paper 2006-003, Tilburg University, Tilburg Law and Economic Center.
  73. Ravid, S. Abraham & Spiegel, Matthew, 1999. "Toehold strategies, takeover laws and rival bidders," Journal of Banking & Finance, Elsevier, vol. 23(8), pages 1219-1242, August.
  74. P.A. Angelov & S. Rosenkranz & E.J.J. Schenk, 2012. "Competitive Effects of Merger Remedies in Europe’s High-Tech Industry," Working Papers 12-16, Utrecht School of Economics.
  75. Jabbour, Alain R. & Jalilvand, Abolhassan & Switzer, Jeannette A., 2000. "Pre-bid price run-ups and insider trading activity: Evidence from Canadian acquisitions," International Review of Financial Analysis, Elsevier, vol. 9(1), pages 21-43, February.
  76. Aktas, Nihat & de Bodt, Eric & Roll, Richard, 2010. "Negotiations under the threat of an auction," Journal of Financial Economics, Elsevier, vol. 98(2), pages 241-255, November.
  77. Brigida, Matthew & Madura, Jeff, 2012. "Sources of target stock price run-up prior to acquisitions," Journal of Economics and Business, Elsevier, vol. 64(2), pages 185-198.
  78. Dan Jordan & Donald Wort, 2009. "A test of bear market mergerstat control premiums," Review of Quantitative Finance and Accounting, Springer, vol. 33(1), pages 27-36, July.
  79. Officer, Micah S., 2007. "The price of corporate liquidity: Acquisition discounts for unlisted targets," Journal of Financial Economics, Elsevier, vol. 83(3), pages 571-598, March.
  80. Chao Chen & Philippe Cornu, 2002. "Managerial Performance, Bid Premiums, and the Characteristics of Takeover Targets," Annals of Economics and Finance, Society for AEF, vol. 3(1), pages 67-84, May.
  81. Weitzel, Utz & Kling, Gerhard, 2012. "Sold below value? Why some targets accept very low and even negative takeover premiums," MPRA Paper 42832, University Library of Munich, Germany.
  82. Jorg Bley & Jeff Madura, 2003. "Intra-industry and inter-country effects of European mergers," Journal of Economics and Finance, Springer, vol. 27(3), pages 373-395, September.
  83. Heitzman, Shane, 2011. "Equity grants to target CEOs during deal negotiations," Journal of Financial Economics, Elsevier, vol. 102(2), pages 251-271.
  84. Podolski, Edward J. & Truong, Cameron & Veeraraghavan, Madhu, 2013. "Informed options trading prior to takeovers – Does the regulatory environment matter?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 27(C), pages 286-305.
  85. Shelton, Lois M., 2000. "Merger market dynamics: insights into the behavior of target and bidder firms," Journal of Economic Behavior & Organization, Elsevier, vol. 41(4), pages 363-383, April.
  86. Hsieh, Jim & Walkling, Ralph A., 2005. "Determinants and implications of arbitrage holdings in acquisitions," Journal of Financial Economics, Elsevier, vol. 77(3), pages 605-648, September.
  87. Chi, Jing & Sun, Qian & Young, Martin, 2011. "Performance and characteristics of acquiring firms in the Chinese stock markets," Emerging Markets Review, Elsevier, vol. 12(2), pages 152-170, June.
  88. Bargeron, Leonce L. & Lehn, Kenneth & Moeller, Sara B. & Schlingemann, Frederik P., 2014. "Disagreement and the informativeness of stock returns: The case of acquisition announcements," Journal of Corporate Finance, Elsevier, vol. 25(C), pages 155-172.
  89. Clay Moffett & Mohammad Naserbakht, 2013. "Stock Price Behavior of Acquirers and Targets Due to M&A Announcement in USA Banking," Iranian Economic Review, Economics faculty of Tehran university, vol. 18(1), pages 105-114, winter.
  90. Cornett, Marcia Millon & Tanyeri, Basak & Tehranian, Hassan, 2011. "The effect of merger anticipation on bidder and target firm announcement period returns," Journal of Corporate Finance, Elsevier, vol. 17(3), pages 595-611, June.
  91. Panagiotis Fotis & Michael Polemis & Nikolaos Zevgolis, 2011. "Robust Event Studies for Derogation from Suspension of Concentrations in Greece during the Period 1995–2008," Journal of Industry, Competition and Trade, Springer, vol. 11(1), pages 67-89, March.
  92. Kahle, Kathleen M., 2000. "Insider trading and the long-run performance of new security issues," Journal of Corporate Finance, Elsevier, vol. 6(1), pages 25-53, March.
  93. John Becker-Blease & Lawrence Goldberg & Fred Kaen, 2008. "Mergers and acquisitions as a response to the deregulation of the electric power industry: value creation or value destruction?," Journal of Regulatory Economics, Springer, vol. 33(1), pages 21-53, February.
  94. Asquith, Daniel & Kieschnick, Robert, 1999. " An Examination of Initial Shareholdings in Tender Offer Bids," Review of Quantitative Finance and Accounting, Springer, vol. 12(2), pages 171-88, March.
  95. Eckbo, B. Espen, 2009. "Bidding strategies and takeover premiums: A review," Journal of Corporate Finance, Elsevier, vol. 15(1), pages 149-178, February.
  96. Ali-Yrkkö, Jyrki, 2002. "Mergers and Acquisitions - Reasons and Results," Discussion Papers 792, The Research Institute of the Finnish Economy.
  97. Ismail, Ahmad & Krause, Andreas, 2010. "Determinants of the method of payment in mergers and acquisitions," The Quarterly Review of Economics and Finance, Elsevier, vol. 50(4), pages 471-484, November.
  98. Louis, Henock, 2005. "Acquirers' abnormal returns and the non-Big 4 auditor clientele effect," Journal of Accounting and Economics, Elsevier, vol. 40(1-3), pages 75-99, December.
  99. Fich, Eliezer M. & Cai, Jie & Tran, Anh L., 2011. "Stock option grants to target CEOs during private merger negotiations," Journal of Financial Economics, Elsevier, vol. 101(2), pages 413-430, August.
  100. Shahrur, Husayn, 2005. "Industry structure and horizontal takeovers: Analysis of wealth effects on rivals, suppliers, and corporate customers," Journal of Financial Economics, Elsevier, vol. 76(1), pages 61-98, April.
  101. Matthew Higgins & Daniel Rodriguez, 2003. "The Outsourcing of R&D through Acquisitions in the Pharmaceutical Industry," Emory Economics 0324, Department of Economics, Emory University (Atlanta).
  102. Moeller, Sara B. & Schlingemann, Frederik P., 2005. "Global diversification and bidder gains: A comparison between cross-border and domestic acquisitions," Journal of Banking & Finance, Elsevier, vol. 29(3), pages 533-564, March.
  103. Andreou, Panayiotis C. & Louca, Christodoulos & Panayides, Photis M., 2012. "Valuation effects of mergers and acquisitions in freight transportation," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 48(6), pages 1221-1234.
  104. Klaus Gugler & Dennis C. Mueller & B. Burçin Yurtoglu, 2006. "The Determinants of Merger Waves," CIG Working Papers SP II 2006-01, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
  105. Damien Neven, 2002. "Discrepancies Between Markets and Regulators: an Analysis of the First ten Years of EU Merger Control," IHEID Working Papers 10-2002, Economics Section, The Graduate Institute of International Studies.
  106. Martynova, Marina & Renneboog, Luc, 2008. "A century of corporate takeovers: What have we learned and where do we stand?," Journal of Banking & Finance, Elsevier, vol. 32(10), pages 2148-2177, October.
  107. J. Mulherin & Kiplan Womack, 2015. "Competition, Auctions & Negotiations in REIT Takeovers," The Journal of Real Estate Finance and Economics, Springer, vol. 50(2), pages 151-180, February.
  108. Louis, Henock, 2004. "Earnings management and the market performance of acquiring firms," Journal of Financial Economics, Elsevier, vol. 74(1), pages 121-148, October.
  109. Audra L. Boone & J. Harold Mulherin, . "Corporate Restructuring and Corporate Auctions," Claremont Colleges Working Papers 2002-38, Claremont Colleges.
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